Largest Exporter of Goods in 2023

China, the United States, and Germany are the three largest exporters of goods in the world. They significantly affect global trade, especially during a time of rising protectionism and changing economic conditions. China was the largest exporter, sending out goods worth $3.38 trillion in 2023, 14.2% of global exports. Despite a 10% decrease in the average price of its manufactured exports, China’s export volumes approached record levels, highlighting the resilience of its manufacturing sector even in the face of increasing trade restrictions worldwide.

The United States is the second-largest exporter in the world, sending out $2.02 trillion in goods, which is 8.5% of the global total. The U.S. has not been the top exporter since 1979, but it has improved its trade balance recently with a $65 billion surplus in energy. This surplus primarily arises from a boost in domestic energy production, helping the U.S. to avoid fluctuations in global oil prices. As a result, energy, especially refined petroleum, has become its top export, going to 173 countries.

Germany came in third, exporting $1.69 trillion in goods, which accounts for 7.1% of global exports. Even though the German economy contracted, its exports grew by 1%, primarily by industrial goods, particularly automobiles and pharmaceuticals. Nonetheless, Germany’s export-dependent industries remain vulnerable to fluctuations in energy prices and the possibility of new U.S. tariffs, which could significantly affect its key sectors.